Recently there were reports that Vince McMahon wanted to return to WWE, saying that he had been given bad advice to retire and step down, and now he’s putting a plan into motion to try and make that happen. In a new report from The Wall Street Journal, it was revealed that he is trying to insert himself as the Board of Directors Chairman and wants to bring back Michelle Wilson and George Barrios as well, forcing three current members of the board out. In a statement, McMahon said this is all so that WWE can take advantage of a small window to sell and benefit shareholders, but WWE fans aren’t thrilled with the news. In fact, they are for the most part upset and worried about what this means for the company moving forward, and you can check out some of the reactions coming in on the next slide.
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McMahon released a press release that laid out why he wants to return to the company and in that release also stated that this won’t have any effect on WWE management in place, but many fans aren’t sold. You can find McMahon’s release below.
“The only way for WWE to fully capitalize on this opportunity is for me to return as Executive Chairman and support the management team in the negotiations for our media rights and to combine that with a review of strategic alternatives. My return will allow WWE, as well as any transaction counterparties, to engage in these processes knowing they will have the support of the controlling shareholder,” McMahon wrote.
“Ms. Wilson and Mr. Barrios are highly qualified directors whose professional experience positions them well to help the Company achieve the best possible outcomes in both initiatives. As former WWE Co-Presidents and Board members, they are intimately familiar with industry dynamics and the organization’s operations and have helped guide the Company through past successful media rights negotiations. I look forward to working closely again with Michelle and George — as well as the Company’s remaining directors and management team, who have my full support and confidence. WWE has an exceptional management team in place, and I do not intend for my return to have any impact on their roles, duties, or responsibilities,” McMahon wrote.
